In the current economic crisis, most of the students have taken out student loans in order to pay off for the education. When the economic recession and crisis hits them, it becomes difficult for them to pay off the loan, as jobs are very scarce. Under such a condition, people can get relief with the help of government grants. You can get the government grants for free in order to pay off the student loan, if only you consolidate the loan, which can further reduce the amount of interest that you may have had to pay on the loan.

It is extremely important for you to apply for the consolidation of the student loan that you may have taken, and it is better for you to do it in your college. You shall have to fill a lot of forms in order to get rid of any sort of debt that you have. Remember, all the money that you may have taken as a student for your education would have to be combined whenever there is a need for you to request for government grants in order to pay off the loan amount. If you do this particular process, you can reduce the amount of student loan debt by decreasing the monthly interest.